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A group of about 32 residents of St. Anne’s Hill helped start Fifth
Street Co-Op Inc., a member-owned brewery and restaurant that will be
the first of its kind in Ohio and only the second in the nation.

Members of one of Dayton’s historic neighborhoods are investing about $300,000 in converting a derelict site into a business venture.

A group of about 32 residents of St. Anne’s Hill bought the building at 1600 E. Fifth St., fixed it up, and helped launch Fifth Street Co-Op Inc., a member-owned brewery and restaurant that will be the first of its kind in Ohio and only the second in the nation.

Since starting as a co-op in June, the group has raised $175,000, said President Brian Young. To finish renovations at the building and to buy the $140,000 brewing equipment, the group still needs to raise at least another $100,000, he said.

The co-op has about 1,100 members who have each invested $100, Young said, and it is looking to add another 900 in order to pay off the starting expenses. Membership will still be open after the group reaches 2,000 members, but Young said he will stop advertising it as heavily.

Currently the membership reaches residents of 20 states, as well as a lot of locals.

“It’s a unique business model,” he said. “For $100 they’ll do it because it’s a neighborhood helping themselves. It’s a feel good thing for people.”

Membership benefits include discounts on beer and end-of-year refunds on any profit the bar makes, Young said.

Young said the brew pub and restaurant, which will be called Fifth Street Brewpub, will open in three phases. Phase one, scheduled for late January or early February, will be a restaurant and bar with a limited menu. In late April the pub will start brewing and serving its own beer, and by June Young said the restaurant should be operating with a full kitchen and employing between 15 and 25 in the 2,500-square-foot space.

The brew pub will host an open house Saturday, Dec. 22, 2012 from noon to 8 p.m. to benefit Toys for Tots, and to showcase the renovations to the building, which include new raised ceilings, new floors to replace the rotting wood, a new roof, and a newly painted exterior. Attendees are asked to not bring a toy; instead, a cash donation will be made by Fifth Street Brewpub to benefit Toys for Tots.

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